Glasgow Taxi Insurance – Protect Your Taxi Business
Taxi drivers need special coverage beyond what is provided by standard car insurance. You, your taxi, and your passengers all need to be protected by specialized insurance coverage. Insurance for taxis might change based on factors such as company size, vehicle type, and driving habits.
For instance, if you want to pick up people on the street, you’ll need public hire taxi insurance. Having adequate Glasgow taxi insurance is mandatory. And you’ll want that amount to include any lawsuits for injuries and property damage.
What is Glasgow Taxi Insurance?
Taxi drivers understand the frustration of a broken-down vehicle. In the event of an accident, you must have adequate insurance to protect yourself, your vehicle, and your income.
Glasgow taxi insurance was developed specifically to address the hazards faced by taxi drivers. Taxi drivers spend more time than the average motorist on the road, and much of that time is spent in less-than-ideal conditions, such as heavy traffic and late night hours.
Black cab drivers, as well as those who drive MPVs and minibuses, face additional threats due to the size and number of people their vehicles carry. Having taxi insurance that protects you, your vehicle, your passengers, and any members of the public or their property can help you avoid financial hardship and get back on the road quickly.
Why Do I Need Glasgow Taxi Insurance?
Any person who operates a taxi for hire, whether for private or public use, is required to carry Glasgow taxi insurance. This is because, even if business use is included, regular car insurance will not give you the protection you require.
Because using your car as a taxi is typically not covered by a conventional car insurance policy, you should make sure you have adequate protection in place. Insurance is available for both conventional taxis and ridesharing services like Uber.
If you have adequate taxi insurance, you can protect your income in the case of a claim being filed against you. This specialized insurance protects against a wide range of potential risks, including accidents, injuries, property damage, and legal liability.
Why Are Taxi Insurance Rates Higher Than Average?
Taxi drivers in congested cities often work longer hours at inconvenient times. It’s also not surprising that taxi drivers will rack up a lot of miles each year. All of these factors raise the likelihood of an accident and, consequently, your insurance premiums.
Your insurance premiums may also be affected by the size of your vehicle. Taxis are typically larger vehicles like minivans, SUVs, and estate cars. These cars provide more space for people and luggage than regular cars, but they also have higher insurance costs.
Insurance for taxis might be complicated, but there are generally these options for coverage:
- Third-Party Only Coverage – This is the bare minimum required by law. It will pay for repairs to the other driver’s vehicle, property, or person if you cause an accident, but it won’t protect you or your vehicle.
- Third-party Only, Theft and Fire Cover – You can have the same peace of mind as with standard third-party only insurance, plus protection in the event your taxi is stolen or damaged in a fire, by purchasing third-party only, fire, and theft insurance.
- Public Liability Insurance – If your passengers decide to sue you, public liability insurance can protect you financially. It may be included free of charge in some policies, while in others it may be an optional extra. If you are unsure, check with your insurance provider.
- Comprehensive Coverage – This is the highest degree of coverage available. In addition to the aforementioned protections, you and your vehicle will also be insured against physical harm.
How Do I Get Cheap Glasgow Taxi Insurance?
Insurance for a taxi can be quite pricey, however, there are ways to lower the premium, such as:
- Observe all traffic laws
- Select a trustworthy car
- Strengthen safety precautions
- Compare prices
Choose Vehicle Carefully
You might save money on Glasgow taxi insurance by selecting a vehicle with a smaller engine. Before purchasing a vehicle for use as a taxi, it is important to research how much insurance would cost.
Security Features Installation
Making it more difficult to steal your vehicle is one way to reduce your insurance premiums. Adding immobilizers or other additional security measures can be a good long-term investment.
Maintain a perfect driving record by always being cautious. Your claim-free driving record will work to your advantage when negotiating taxi insurance rates.
Some insurance companies will apply a no-claims discount earned on a personal policy to a commercial taxi policy. The cost of your insurance may rise if you have any claims or convictions on your driving record.
Find the best or least expensive deal possible by requesting and comparing quotations from various service providers.
Since no single provider can guarantee to have the lowest premium, it is in your best interest to go around and see what deals and packages are available from various companies. QuoteRadar can help you with it.
Frequently Asked Questions
Do Taxis Need to Have Insurance?
Using your car for taxi service will void your standard car insurance policy. Having taxi-specific insurance is, thus, a need. Several criteria will decide the taxi insurance coverage that is best for you.
How does Taxi Insurance Work?
Take some time to consider the dangers you encounter and the coverage you need, as the number of optional extras you may add to your tax insurance plan is practically endless. It’s important to make sure you don’t have similar coverage from somewhere else because some parts of the policy will be free but others will boost the premium.
What is Public Hire Taxi Insurance?
Taxis available for public hire do not require bookings and can be called off the street. Due to the unique dangers involved, specialized public hiring insurance must be acquired. You may think taxi insurance would be more expensive, especially with the newer taxis and the usually older and more trained drivers, but that’s not necessarily the case.
To Get Fleet Insurance, How Many Taxis Do I Need?
Taxi fleet insurance is the most cost-effective protection plan if you own three or more taxis. You won’t need to get several policies for your business fleet if you do this. If you lease your taxis out to drivers, they can be included in the taxi fleet policy as long as they are 25 or older.